The Ministry of Economic Affairs yesterday signed letters of intent (LOI) with 34 foreign companies who are looking to invest in Taiwan, which would account for an investment of NT$50 billion (US$1.66 billion) and the creation of 8,246 jobs in three years, it said.
The companies includes 10 from the US, eight from Japan, nine from Europe, three from Asian-based firms and the rest from Canada, Argentina, Australia and the Cayman Islands, the ministry said in a statement.
“Other than our old friends such as Dell Inc, many LOI signers are first-time investors to Taiwan — evidence they have seen Taiwan’s position become more important in East Asia following the signing of the Economic Co-operation Framework Agreement [ECFA] with China,” Minister of Economic Affairs Shih Yen-shiang (施顏祥) told a press conference after the signing ceremony.
Photo: CNA
The prospective investors included firms in the manufacturing and services sectors, with the main area of investment targeting research and development centers and logistics, the ministry said.
Shih used Leg Avenue Inc as an example, saying the California-based wholesale hosiery company, funded by Taiwan native Tsai Hung-chan (蔡鴻展), planned to initially invest US$10 million to build a logistics warehouse in Taichung Port’s Free Trade Port Zone.
“We hope the logistics base in Taiwan will help expand our business in greater China, having seen potential in the growing demand momentum coming from the area,” Tsai told reporters.
Based on the ministry’s latest statistics, private investment in Taiwan grew 17.63 percent during the first nine months of the year from a year earlier, led by large investment projects by Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and Formosa Plastics Group (FPG, 台塑集團).
According to the ministry, as of the end of last month, there were 1,391 cases of private investment, equating to NT$929.6 billion (US$30.8 billion) of capital, or 84.51 percent of the government’s target figure.
TSMC’s investment projects include a NT$19 billion venture for solar modules and related systems, an NT$11 billion solid-state lighting project and a NT$7.9 billion CIGS thin-film solar battery investment, the ministry said in a statement on Tuesday.
The ministry said FPG injected NT$12 billion for the inspection and maintenance of pipelines in its accident-prone petrochemical complex in Mailiao (麥寮), Yunlin County.
Other big ventures include a NT$5.1 billion airbag inflator investment project of the Mosa Industrial Corp, it added.
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